Trump against bitcoin taxation — that was the main message from Donald Trump after his conversation with journalists on the night of July 2 to 3, 2026. The U.S. president stated that bitcoin is increasingly functioning as a full-fledged currency, and therefore, the same rules as stocks or other investment instruments should not automatically apply to it.
- Donald Trump questioned the capital gains tax on bitcoin transactions.
- He believes bitcoin is a full-fledged currency if it is used for everyday purchases.
- Trump effectively separated bitcoin as a means of payment from stocks and other investment instruments.
Why Trump Considers Bitcoin Money, Not Just an Investment
During his conversation with the press, Trump emphasized the practical use of cryptocurrencies. According to him, if someone pays for an everyday purchase, such as coffee, with bitcoin, the logic of the capital gains tax seems questionable.
He gave an example from a recent conversation with a friend: the friend noted that a tax should not arise every time bitcoin is used as money. Trump agreed with this idea and made it clear that the current approach to such transactions may be too strict.
This is an important signal for the crypto market. If bitcoin is viewed not only as an asset in accounting but also as a means of payment, then taxation of such transactions could become a separate topic for reform. Investors are now assessing whether this position can change the approach to digital assets in the United States of America.
The most likely scenario for Washington is a discussion of relief specifically for cryptocurrency payments, not for all bitcoin transactions at once. A broader option is possible if Trump’s line receives political support: then tax policy could separate investment holding of bitcoin from its use as money.
Cryptocurrency as a Strategic Direction for the U.S.
Trump once again emphasized that cryptocurrency has become a large and significant industry. He made it clear that the United States of America should not give up leadership in the field of digital assets to other financial centers.
“Whatever we do, we want to be first,” Donald Trump said.
In this logic, bitcoin for him is not just a tool for private investors. It is part of a broader technological and financial race, where regulation, capital, market trust, and the role of the U.S. dollar in the global settlement system are important.
This rhetoric coincides with Trump’s previous statements about the need for a more friendly policy toward the crypto industry.
- Previously, Trump spoke in favor of a more friendly policy toward the crypto industry.
- He has not yet presented specific bills on this topic.
- After his statements, expectations of possible changes became noticeably stronger.
Financial Reporting and Income From Crypto Assets
The reason for the questions was Trump’s annual financial report, which includes significant income related to cryptocurrency and other investments. Journalists asked him how involved he is in managing these areas himself.
“My children run the business. I do not participate,” Trump said.
He added that professional managers handle the investments. According to Trump, he has always been able to make money, but he does not make day-to-day investment decisions now.
Against this background, the issue of conflict of interest becomes especially sensitive. If the Trump administration promotes softer rules for cryptocurrencies, the market will inevitably compare such decisions with his personal financial reporting and income related to digital assets.
This answer is important in the context of the tax discussion. When a digital asset generates profit, the question arises as to which tax should apply: capital gains tax, income tax, or a separate model for cryptocurrency payments.
- Selling bitcoin at a profit: usually triggers a capital gains tax, because the profit is considered the difference between the purchase and sale price.
- Receiving bitcoin as payment: such a transaction may be subject to income tax, since cryptocurrency in this case is considered income.
- Bitcoin mining: mined coins may be considered income, and their subsequent sale may then create a capital gains tax.
- Paying for goods or services with bitcoin: this is the case Trump questioned, because in a regular purchase, bitcoin acts as money, not as a stock.
This is exactly the boundary around which the new discussion is unfolding.
How the IRS Treats Bitcoin
The U.S. Internal Revenue Service, IRS, treats bitcoin and other cryptocurrencies as property for tax purposes. Therefore, transactions with digital assets require accounting: buying, selling, exchanging, receiving payment in cryptocurrency, and mining can all create tax consequences.
For taxpayers, this means they must record the value of bitcoin at the time of the transaction, calculate profit or loss, and report cryptocurrency transactions in their tax returns. This approach is what causes disputes when it comes to small payments like buying coffee.
Washington May Return to Bitcoin Tax Reform
After Trump’s statements, the market’s attention shifted to Washington. If the topic receives political momentum, the discussion could move to Congress, including the U.S. Senate, where any changes to tax rules will require serious work.
There are no specific initiatives yet. But criticism of the current approach to bitcoin has already fueled investor and crypto market participant interest. For them, the key question is simple: will this remain campaign rhetoric or become the basis for real reform?
What Rules Already Affect the U.S. Crypto Market
Cryptocurrency regulation in the U.S. consists of several areas, not a single universal law. For the market, IRS tax rules, digital asset reporting requirements, and norms applied by financial regulators are especially important.
- The tax code and IRS guidance: set the approach to bitcoin as property and determine when taxable profit or income arises.
- Infrastructure Investment and Jobs Act: strengthened reporting requirements for digital assets and made tax control over crypto transactions a more prominent topic.
- Bank Secrecy Act and FinCEN rules: important for crypto businesses that work with money transfers and must comply with anti-money laundering requirements.
- SEC and CFTC approach: affects which digital assets may fall under securities or commodity derivatives market rules.
Trump’s statements are also important for audiences outside the U.S., including Russia, where market participants closely follow U.S. policy on digital assets. If the world’s largest economy eases the tax regime for cryptocurrency transactions, it could affect investor sentiment and attitudes toward bitcoin as a payment instrument.
For the market, such a step could be a strong signal: investors would gain more confidence, and businesses would find it easier to test payments in bitcoin. But for the budget and regulators, it would simultaneously raise new questions — how to separate ordinary transactions from investment gains and how not to weaken control over large operations.
The Fed, Stock Market, and Economic Forecasts
Cryptocurrencies were not the only topic of conversation. Trump also touched on the Federal Reserve System and mentioned Kevin Warsh, noting that there is “some hostility” on the Fed board. At the same time, he said, Warsh should act based on the situation.
Trump separately praised the stock market and expressed confidence that the U.S. economy can grow faster than 4% per year. Under especially favorable conditions, he allowed for growth at the level of 12-13%.
Against this background, the position on bitcoin looks like part of a broader economic line. Trump talks about markets, taxes, investments, and technological leadership as related topics. Therefore, investors will watch not only his words but also whether real changes in tax policy follow them.
